tv Making Money With Charles Payne FOX Business November 3, 2014 6:00pm-7:01pm EST
1970s after graduating from mit. he was 77. and that's it for tonight's willis report. we'll see you right back here tomorrow. charles: i'm charles payne and you're watching making money. the midterms one day away. we're watching all the races that the g.o.p. shows momentum. how will obama if republicans take control? peter. >> charles, republicans need to pick up six seats to take control of the senate. they think they have momentum. look at this calendar. democrats are defending seats in seven states that this map -- seven seats in states -- seven states in states that mitt romney won over president obama in the 2012 election. we're watching a couple of interesting races. one is in iowa where the latest clear poll shows
joni ernst is polled ahead of democrat bruce braley. in kentucky, senate republican leader mitch mcconnell has a solid lead over democrat alison grimes. but in kansas, incumbent republican pat roberts is slightly trailing independent greg orman. charles, back to you. charles: all tongue-tied. can't wait until tomorrow. oil today broke a support point at 80. let's go to nicole petallides on the new york stock exchange floor for all the big movers today. >> well, charles back and forth green red, green red. we're getting used to to that. the dow and s&p pulled back after setting highs. the nasdaq highest level we've seen in 14 and a half years. weedid see alibaba, apppe, visa hitting highs. we're waiting on the elections tomorrow. midterm elections and also job numbers on friday. there's a lot in play
here on wall street. it's worth noting, we did have a record and didn't finish too far off the unchanged lines. busy day. and it's earning season. never ends. charles: you're absolutely right. and it was a prettt good session. you take everything into account. we've got the investment pros. paul schatz is with us suspect paul, a lot to ask you about this market and politics. news director scottie hughes is with us. -@and she's back, republican strategist dee dee, she's been making movies in rome. she came here to help us in -- charles: oh, and she also won an emmm and matt mccaul is with us. he idn't win an emmy. after a real wild october, november starts with a whimper. this market is raring to go much, mmch higher.
let's remember friday is the big jobs report day. nnw, i am worried about oil. i nowwyou guys love to cheat gas, but as it continues to collapse, it's not all good news. one day before the midterm elections, major senate races could have a profound impact on our economy. for decades, matt what do you make of it all? >> everyone is talking about how well the election does after the elections. it's amazing. seventeen out of 18 18 midterm elections market up 9 percent in the next 90 days. setting up for a big rally. bank of america came out. they surveyed a strategist only 52 percent are going in equities. very undervalued. the market subpoena over 25 percent. people are out of stocks. charles: by the way, it's not just people it's professionals. later on in the week, i want to go into detail what that means..% these guys have to catch up. in the meantime, paul, what do you make as a
session of today? was it the calm after the storm? >> i think today was your typical digestion session. everyone is talking about friday because what bank of japan did. all of last week, the market has been straight up. at some point you're going to digest. today began. if it would be back ind another couple of days. charles: but we're setting up for something. right? it's a temporary digestion. >> november, decemmer, january, stroog months. post midterm elections, the market usually has a bump to it. in the a midterm election you normally see a presidential low in the third quarter. an 8 percent low was a cycle low. charles: we spent a lot coming off 4 percent so 8 percent was a lot. >> the economic data, i would say mixed. in europe, in china, it was very poor. in u.s. very good. the earnings still
were -- and do not underestimate the surprise stimulus by the bank of japan. don't underestimate the signnling by the ecb. we don't want to talk about central bank stimulus, but the markets are loving this. charles: although we're done with qe. that's all done and it doosn't matter because we didn't crash, we went straight up as a matter of fact. and, you know, bank of japan, ecb, i still my opinion, corporate earnings, america living up to its potential. dee dee, in my mind where we are as an economy, i know conservatives, republicans love to say we're doing well. the economy is doing well. here's tte point: in my mind we're four years behind. but it is still america. it's still a 17 trillion economy. >> we're still the best country in the world even though we have the worst president we've had in history. time to party, folks. the republicans are going to take the @enate. that will be good for the stock market. ffnally the adults are back in the house.
we'll have the senate. we'll have the house. it will be very good for the economy. charles: scottie has the party shoes. >> both parties act like children. to matt's point, the reason we'll see this bump in the economy, it has become a lame duck congress. that's why you see the bumps in the market. it's the least amount of government involved. charles: all right. on that note, gridlock is good. let's blow the first whistle of the show. payne's investment playbook. there's a lot of lessonn when it comes to the stock market and investing and buildingga future. for the most part, we can encapsulate them all in the month of october. let's talk about the first thing that panic selling. look the that chart. easier said than done, but not enough to hang on. that's a classic v-shape right there. we are in free fall mode. the more the dow went down the greater the volume. it was pure panic and pure capitulation, at least that's what we
call it on wall street. getting in and out of the market that's the lesson. it's difficult to do. 90 percent of the time you're tryyng to play that game, you're going to be wrong. october, listen, that was it. we saw where it went down. look at this, you can see the inverse move. huge volume. massive decline. the volume dripped as we went higher. now, i subscribe to being mostly or totally invested all of the time. while you won't own all the same stocks, it means you won't hop skip in and out trying to pick bottoms. look at what a 10,000 investment back in december of 1993. you would have made almost $60,000 if you just would have bought and held. done nothing else. $58,332. how about ou got cute and you missed ten of the best days? your investment would have slipped 29 grand.
and forget it, if you tried to pick tops and bottoms and played the market jumping in and out, you would have missed the entire rally. if you missed the best 40 days, this entire rally, you would have completely missed it. real, real deal.our next a lot of people still waiting on the market to crash so they can jump in. the fact of the atter, scottie, we talked about this. i know people are doing this, but they're not going to do it. just get in there and stay there. >> confidence. that's an easy word to say. confidence in the market and the economy. how do you do that? 50 percent of americans feel comfortable in their futurr. but the truth is they don't feel safe. they keep their money in cash. they want to make sure they're flexible and they have options. how do we push them into it? it's positive. we need more stories and examples of that graph that when you invest, you can succeed.
this negativity, we have do be positive and show you can succeed. charles: i like hypochondriac. >> two thirds is in cash. they missed this rally. not the professionals, the people sitting at home. you see these people every day like i do. they always say, give me that that pull back. we had a pullback. they're too scared to buy when it's down. what's going to happen? eventually they'll throw in the towel? charles: we saw in that chart, a lot of people threw in the towel at the exact bottom of the month. 63 percent of everyone in cash makes them feel safe or they're cautious with their money or they like the flexibility the options of sitting on all that cash. it's going to make you work a lot longer in older age. >> investors make terrible traders. the ability to pick and time the short-term market movements. i do like what you're putting up up there. if you see a company you
like, stick with it. be more intentional. cystmatic. timing matters. you can entire market fully at the wrong time, and that will have a huge effect on your -- there was a pullback about 10 percent. people did not step in the market the way they talked about about it..% charles: one of the the morals of the story, paul, forget about the 4 percent and the 10 percent pullback if you're in this for the long haul. >> your age is a huge determining factorr% president older they are, folks can't afford to have a 20, 30, 40 percent as they're pulling money back. charles: if you're 45? >> you should be 90 percent in stocks. charles: if you're like dee dee 25. >> one hundred and 10 percent on stocks. charles: she spends all her money in trips.
>> indianapolis. charles: let us get back to our original premise. it's not the market, but lack of leadership or at least the lack of confidence of people leading our nation. >> of course. we've had terrible leadership. people are down right now. i'm telling you, tomorrow, at the beginning of an uprising, we will win the senate, and the gridlock will be gone. gridlock is not good. when is gridlock good ever? everyone is unhappy with that. charles: for now we will blow the whistle for a second time and open up another page from payne's investment playbook. here's the thing, what is america always been about? politicians will tell you this, but i will tell you right now it's always been pulling once self up by the bootstraps. we've admired rich people, wealthy people. it didn'ttmatter the source of their wealth. recently that's begun to change. salary to watch a's
millionaire baseball players, but i loath their billionaire bosses. consider the list of the richest presidents only a couple of these guys got there from the bottom. roosevelt. he made himself. linden b johnson, but after that, take a look at this list. andrew jackson. marriage. thomas jefferson, inheritance, george washington, arried well. jfk would have inherited the equivalent of a billion dollars. there's a lot of resentment about being rich. in fact, the recent, the debatet debate in florida to see who will be governor, we saw something really, really funny between charlie crist and rick scott. both of these guys played the i grew up poor card. i guess that's the winning card. take rick scott. charlie doesn't care the reason he doesn't care, he never experienced it.
i watched my father struggle to buy christmas prevents. but charlie crist said, you know what, when i was a kid, we lived in a small apartment in atlanta. my dad was going to medical school. he used to deliver newspapers to make ends meet. you guys don't know me. two rich guys trying to connect to the common folk. it makes me nervous. the current issue right now in newsstands. there's an article that's titled, none versus the tycoon. nunn versus perdue. this guy was the ceo of two major corporations that's seen as a disqualification for the senate. help me out. >> she couldn't run a pop stand this guy has been very successful. and actually i think he will definitely win. the last poll looked good. in the end, people will get that he is the real winner. charles: why is it such a battle? why would it be a guy
who runs two successful companies, that that should be the star on his resume, but it's actually a blemish. >> it's amazing how we've turned the whole narrative around. pick yourself up. rags to riches. now, it's no rags to riches. we should want people who are successful. those are the folks we want -- without business exxerience running my government. >> i don't even think it's an income inequality issue as much as how did you make your money, what did you bring to society? i think this started an attack on wall street because there really is no products being made. i think that's where the attack started. charles: that's the a populist thing. there are people who willlgo to a factory that was funded by money raised by wall street. >> nobody is mad at oprah. nobody is mad at steve jobs. but i think there is a
lot of -- >> why can't a politician just embrace being wealthy? >> they should. >> you know, i will help you. my policies can help you be wealthy as well. we all want to be wealthy. instead of saying, i'm here to take care of you, by giving you money. charles: that was the mistake mitt romney made. he will be on-air with neil, but i think he ran from hiss success. >> we can still achieve the american dream. what we're missing in georgia, the deal with nunn please don't look at me as being the child of the politician. she's trying to show she's common. here's where the republicans need to learn from the democrats, you talked about the past president. let's talk about the current president. obama, bill clinton they were both born poor and they raised themselves up. we put forward mccain, romney, all these guys >> that shouldn't. matter. >> that's not a bad thing.
charles: but romney got his father's wealth and he made his own money on his own. >> but he still had the romney name. >> there's nothing wrong with that. >> republicans need to do a better job. >> don't keep saying it was republicans fault. mitt romney was a great candidate. >> why didn't he relate to the people? >> his family, they put together the automotive industry, they said, look, the unions screwed this up. we created money, they took it away. charles: i will say, i hope we do get to a point where accomplishments matter in this country. all right. now, let's get to our last real, real deal. scottie, the last three presidents were losers. there was some misconceptions. i want to go back to you on this. you know, will republicans be making the mistake by saying we don't want to elevate someone like a perdue who has achieved a lot and is a consequence of
this achievement has become wealthy, do you think they would be making a mistake going the other way? >> we are a capitalist party. the g.o.p. is where these people should belong. that's not the issue. it's how you're still able to keep that capitalist position yet relate to people middle income or lower income. that's the magic the republican party has to learn. charles: does anybody think obama relates to anyone. he doesn't relate to anyone black, white. unless you're elite rich in harvard. >> he wears mom jeans. >> i don't care if you were orn poor or rich, it's the message you're puttinn out. obama is a good speaker. he's able to spin a lot of things. get a lot of votes. >> the campaign failed romney. mitt romney was a great person to promote, but the message was not right. charles: do you think if donald trump said i'm throwing my hat
in the ring, he would have a good shot. >> we havv to be loud and proud and bold about capitalism and making money and making money for other people. >> is that a yes or no. >> i take it a no. >> trump aside, you have to find someone -- >> paul rove, he would be fired. >> too many failures. too high profile to be president. >> hillary clinton's comment ent very far left with her comment on businesses creating job. obama was not in great shape, but it was the republicans opportunity. he won anyway. >> what in the hell has she done, nothing? charles: you guys see the news today with this alison grimes. apparently hillary flew in october 14th for an event on a private jet that the grime's campaign paid 17,000 for. how can hillary win
being as wealthy as she is, you talk about -- wall street not producing anything. what ddes she produce? >> the message, that clinton name. they were poor they built themselves up. they had a rough life. she'll use that. >> we'll find out on wednesday morning when we wake up, guess who is the real loser. hillary clinton. she not only lost. she's a cheap loser. she doesn't have the clout she used to have. charles: we'll argue on the break who had the poorest upbringing. a question from a viewer that gives us insight into the changing tastes of american. big money in spicy food. we'll make you money. ♪7
charles: all right. it's that time we answer your questions about making money. remember, if you have any questions about a specific stock or industry, anything, send them to us. we love answering them. on twitter cvpayne. now today's question comes from wayne. you sent me a couple last week. this is good. he's asking about mccormick. and whether it's good for a long term hold. mccormick it sounds kind of boring, this is really a great question because for mccormick there are some amazing drivers for this stock. the millennials a huge factor. 64 percent of them love to cook. 39 percent said they're
eating healthier than their parents. another big is the shift in taste. the millennials love -- they have this great interest in ethnic foods. they said yeah, i'm more interested up to 34 to 49 percent said they're interested. they love italian, mexican, asian. even exotic foods. the impact of purchases of food and beverages, a lot of things impact what we do, but taste is number one. then price and healthiness. mccormick they're well-positioned. the consumer market and they're well-positioned around the world. i think this stock is a keeper. keep it in your 401(k). it's not boring even though it sounds boring. >> what is that from their match.com profile? millennials cook? get out of here. i'm not buying that. and i'm not buying this stock. it is boring. it's got less than
10 percent. too overvalued. there's better spicy plays out there. charles: you're right on that millennial range. don't you like to cook? >> i actually do. that's pouring water in a microwaveable bowl. why millennials are attracted, heart disease is the number one killer..% the number one to avoid is -- >> you think millennials are worried about heart disease? >> we sit there and watched our parents and aunts and uncles -- >> it's a nice, widow orphan story, slow growth. hundred and ten long term. charles: if you had to invest in golden corral or mccormick? >> mccormick. people don't care about spices. -- i don't know where that came from. they're going to golden
corral, they're getting fat. (?) >> you can also look at whole foods. the trader josé. they feature these -- they've actually made more attractive. >> millenniils don't shop? >> i don't cook. charles: let's leave it there. the market rally actually wasn't orchestraaed because some eople think this whole rally and lower gases was done by the white house. some believe there's a secret team pulling all the strings. they're in the basement. they're serious about this. we're going to debate it next. ♪ sollnkeallhahas no hidden fees on savingsccouous?
that's righ it's just thai'm worried about you knowok, why's that?." no hidden feeses, from the bank where nobranche. ♪ charles: the market is rocking. well, conspiracy theories say their is a team that is coordinating all of this from the basement of the white house. no joke. it is called the plunge protection. their job is to stop the market from crashing. many point to an executive order, 12681 signed by ronald reagan march 18th 1988 as the source of this power. the stock market rallyop in gasy call political circles. the october surprise could have helped democrats pull off a couple surprises themselves.
>> i think they have a keg and gabon and are just partying. it is not going to happen. republicans are going to win. the democrats all know it. right now they're probably having a pity party. this little say in the basement failed miserably. chaales: if i did have such a team in the president -- in the basement of would nnver -- >> i would say the following, if you want to create this, you would have to call what country, the saudis and say ramp up oil production, which is what has happened. the price of oil has dropped because of globallproduction it will hurt a number of industries. transportation is going to benefit. the consumer, a huge benefit. i was a little less bullish. i have no thrown in the towel because i think the consumer feels good about paying less at the pump. one country. >> i totally disagreee number one, i was around
when he signed the order, it is the greatest conspiracy theory, someone pulling the levers. there is no ppg to save the market spirit if so, where were they in 2000, 01, 02, 08 when the chili that markets, capitalism or on the verge of splitting apart all things cells good. people listen to it, but at the end of the day -- >> the only thing going on in the white house basement is the bowling alley. the trick is, you do not have to make this in secret. if congress involved. they will play with whenever numbers you want to to read it like we talked about earlier, gas prices always stayed down. charles: visit obama's today and they gave each other >> hopefully they had better shoes. charles: of astilbe flying, tryyng to push the market up. when the market rallied, as you mentioned, there is not big money coming in.
help me out. how come low gas prices are not helping the democrats? isn't that like an essential issue, a pocketbook issue that goes straight to people everyone knows gas prices. >> it is a little suspicious right now. is there something that will go back up on wednnsday, or you have enough people going, wait a minute, why are they being so nice? >> i think the job improvement in, you're going to stick with the incumbent, stay the course. with the price of oil going lower, and not calling a surprise. charles: six years ago 39 million people were living in poverty, now is 47 million. gas is cheaper, but people wondering. >> enough to make a difference to begin with. >> when you are on the ninth level of dante's inferno when you get to the eighth it does not make a difference. too far down, too far gone. charles: out of luck.
>> yes. charles: a lot of polling organizations and for the most part they do a good job. social media is getting in on the act. facebook ranked the most important issues by far. things like economic mobility, the social well-being ranks pretty high. have to give him a shot out. a tent at that -- is 10,000 twitter follower. what do you make? the economy we know. after that there are interesting things that rank pretty high up there. economic mobility to money and politics and social well-being, those kind of things. >> it plays a huge role. the problem with twitter is they don't know how to mmke money. not a problem for people who campaign..@ this is the best equalizer. it makes davis -- charles: what do you make of
the masses, like the economic mobility. everyone is worried about the economy, but the whole system, capitalism is unfair . >> it depends on where the movement is going. politicians love social media so much. >> it's irrelevant. these are millenniums that will vote anyway. when i was young was liberal, too. they let you do the things you're not supposed to do, worried about social issues, but the point is, they are not the ones that will sway the polls anyway in my opinion. it is information but it won't affect tomorrow. >> politicians and campaigns, they completed an entire sector based upon social media. people can be elected to office. >> but even in the rock the vote video -- >> that sounds so 70's. >> they did not even mention the economy. they are missing the biggest issues which all voters --
>> but less. part of the reason why. >> midterm elections, older voters, kneels do not even know what midderms are. when it is a presidential alexian it is different, a broader basee so you will get older voters who do not care about twitter. charles: these issues themselves. at some point they will be important. the largest age block our millenial said. whether they flex their muscle this time around or next time, does this say something about 2016? >> yes. the republican party is outpacing. the democrats have been better about social media. the republicans got the message. we learned our lesson. we got our clocks cleaned. it's. >> that age group, called them whenever you want, at 15 years from now that age group likes those issues. as they grow and make monny they will not be the same. charles: there is an old saying, if you are not a liberal when you're young you don't have a hard if
you're not an old conservative you don't have a brain. if the gop wins the have to do something. how can they pull it off with obama still in the white house? %-take the senate nothing will happen. almost nothing will get passed. the republicans will spend the messes that some of the economy is getting better because they own both houses of congress. the worry would be, frankly, if they don't win the senate in the economy continues to incrementally better. >> they have to show that they tried to and obama stopped. charles: let's leave it right there. by the wwy, tell me your name and i will tell you which way you vote. is but a conservative or liberal? we will discuss the science behind it all. for more election coverage don't mess mitt romney sitting down with our very own and neil cavuto tonight at 8:00 p.m. tomorrow night i will join for live election coverage right here, a fox business, you don't want to miss it. don't change the channel for
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i have $40,ney do you ve your pt right w? $2 could something th sll make an impact on sometngs big as your retireme? well if you start putting that tords ur retirement every week and let itrow over time, for twenty to thirty yrs, that retirement allenge might not seemo big after all. ♪ ♪ charles: all right. forget the rhetoric, who is the most conservative person on this panel right now? we will tell you based upon names. tweet me if you think you know. we will be right back. we will be right back. ♪ islmost as eitg as the thrill of the find.
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i feel like an anchor. there is no doubt that names are important, and influences innividuals, but how oo political leanings? i think first names point more to the politics of our parents or will we were born. take a look at the most liberal and conservative. liberal, natasha, kate. conservative, bubba, doyle, eldon. i ran all of our names through the list. welcome -- well, we all end of the conservative side. so upon further review to met do we need to recheck your credentials? >> that is correct. i was named because my mother was a 70's feminist. they could not tell it -- tell if it was a male or female. the funny part of the study, republicans and their childree after historical figures while democrats and then after cultural figures. presidents, republican.
artist or poet, guess what. charles: i can't even pronounce half of them. matt came up conservative, but you are liberal. >> i can explain that. when i was younger as a liberal, you always try hard to be somebody different. i wanted to be known as nephew. a ponytail, ap, i wanted to be known as matthew. now that i don't care anymore i go back to matt. >> if we move to our nicknames, jimmy, charles to charlie. >> it is all about the legal name. let's not sit here and get technical. >> i protest this. he knnws and melvyn r. doyle i do not trust this poll. i think there are liberals, natasha and cage, alvin n. doyle. charles: the oil is coming to the office later on, and looking for a guy who is 80 years old who plays
blackjack. [inaudible conversations] charles: he drove the few oil wells, he did all. this is the oil. >> the age of aquarius people did this poll. we have the bad names. >> businesses sit there and spend millions of dollars. the same thing goes into your name. your name is your first image. >> eldon campbell lakers. there you go. i found an elvis. >> charles, i think you have the best name and a group. charles: it means man or something like that in german. >> man, i like it. charles: i am a little nervous. we all kind of move toward our name. just a little worried about you. that's all. >> i think we are fine. i was born a republican. charles: all right, investment ideas, i have talked about it before, acting great, one of these names i think that you can
chase. i will tell you all about it when we come back because ultimately i am here to make you money. send us your questions, loves to answer them on the show. keep them coming. @cvpayne for facebook. keep it right here if you want to make money. ♪ how could swchgrass in ar, change engineering in dubai, aluminum production in sth africa, and the aerospace industry in the u.s.? at t. rowerice we understand the connections of complplex, global ecomy. it's just one reason over 70% ot thei-yealipper avera. t. rowe price. invest with confidence. request a prospectus or summy pt information, risksks, fees ad expenseso read and consider reqcarefuy before invesng.mmy pt can yoart tomorr? tomorrtomorrow..ked sod. we cs morr we go live... it's a day fl of promise
firewall, local traffic, data traffic, signaled traffic. the most recent quarter 465 million up from 370 million in june of 2013. america really has been a strong market. asia-pacific doing very well , too. but i like these partnerships. microsoft, cisco, ibm, oracle, they deal with all of the big names in the group. the stock from here has room to 135 and from there at least $130. i have been in it for a long time. short-term you might get a trade. i do caution that it is extremely volatile. okay. >> i love the fundamentals. the ratio is nice and low. facebook, pandora, a lot of social networking clients, a lot of gross. these people are projecting from cyber attacks. that is a trend.
the one thing that scares people away is the high you wanted. stock. charles: of course, when you talk pandora, that helped. >> i am a consumer. [laughter] >> john macadams can retire in the next year. one year left to see alchemy has done an amazing job growing the company. in the near term. charles: he is more bullish than me. let's switch seats. [laughter] charles: what do you thhnk? >> the growing awareness, the tail wind behind this is very strong and should keep this going. they have made smart acquisitions. they're in the right place at the right time and will benefit from a. charles: the key is the volatility. i know the price tags cares a lot of people. it can buy a lot of stock, but i think the volatility
is what i am most worried about. a lot of viewers will go up, pulled back, and then i get bad e-mails. the guy who lost all that money, you owe me an apology >> a lot of people out there, if you realize you're getting into a highly volatile al shot to vostok call let it go, put it away, check it in six months. >> and text in my broker right now. all four of you are finally agreeing. >> is that okay to say that? charles: american? >> just by american. >> you have to buy when they are down. 10-15% runs and then people jump on board. it is crazy. charles: you just rebutted the whole first -- >> exactly. [laughter] charles: all right. well, what people don't realize is virtually all of the battles of their zero back to a power struggle between eds and federal government and local
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♪ charles: august 9th, 1869, known as the glider cain. the advancement in hand the letters. that is a picture of him. taking a flight that day and stall the midair. the second flight of the day , 50 feet off the ground and when he fell to earth he broke his spine and died the next day, but before he did
he uttered his legendary last words, sacrifices must be made. such thoughts are on everyone's mind after the spectacular accident last week. we started off with that explosion of the orbital rocket and that tragic crash and death of one of the pilots of virgin atlantic. over the weekend saying he could not go on blindly, but today he seems to have changed course and says he is determined to be the first passenger on the inaugural trip. listen, let's just hope that we do not make the sacrifices in vain because those kind of things happen as we march for greatness. speaking of which got time now for your marching orders control of congress is the key focus, i think governors races are important. many people don't realize bridge willie all of the battles have gone on about big government, small government, states rights, and i have to tell you, it
is interesting to me to see how local citizens vote in state races because a lot of them are tossups, and they probably should not be. so i want to go around to everyone and find out what you guys think outside of, perhaps, control of the senate is most important tomorrow. >> very simple, the tenth amendment. 147th state initiatives to everything from abortion to gun control to marijuana, but on economics you have states banning income tax, minimum-wage, alaska, arkansas, s.d., illinois, fracking in texas. charles: banning income tax, what state is that? >> tennessee. making it illegal to ever put in that state income tax . charles: we are moving. >> would main street people care about are the initiatives. they're confusing. you need to know what your voting for. >> the initiatives, three states including d.c.
probably going to pass an alaska to be recreational. i think that is a trend that will continue a huge industry, maybe not as much. charles: what is the message, people don't think that marijuana is bad for you any more? >> a lot of baby boomers that grew up smoking marijuana they don't view it as bad, in people view drinking at worse. charles: if they saw rick jame a james' last concert it was bad. his wig was on sideways. >> certain states that win companies they move, and watch governors go after each other, that is a referendum who is competing. charles: some people say that is a form of manipulation, money comes out of machine's pocket, use -- of someone's pocket. >> should ma they be picking
winners and losers? but they want the jobs, even in our own tri-state area. charles: a company would be nuts to move to new york. >> more nuts to connecticut, one of the move fiscally backwards state on earth. i think problem, minimum wage, if they vote for higher minimum wages they will wake up in a couple of years and sadly realize that is not anything to improve the economy. >> because they will help -- charles: redistricting? >> if you were a governor in a state, you have great influence about what happens in your state, and what happened with the economy, that makes a grit influence in the presidency.
>> but -- these governors will be governors for two years, they have something to show. >> biggest governors scott walker in wisconsin, if he loses that is a big win for labor. >> they are crucial. charles: i am shocked it that tight for him. what are you saying at home, a lot of great tweets, if you are a libertarian, you have a heart and a mind, remember that saying? and have you noticed how far gas prices have fallen, right here at elect time? coincidence? you say this does not matter, a done deal. >> an asteroid could hit all of the red states and republicans are still going to win the senate. charles: we take back america. >> get out and vote. >> taking it back. charles: thank you, guys, we had a fantastic show, tomorrow's big
election day, tune in here, we'll cover midterms from political and economic side, every night 6 p.m., if you can't watch, dvr it, now to the man, who knows how to put it together, lou dobbs. lou: good evening, just under 12 hours the first opening of polls in this year's midterm elections, and white house statements have taken on today a less arrogant tone, less emphatic content, rhetoric that is almost, only almost manureed and mature. we gib begin with vice president joe biden who claims that white house stands ready to find common ground with congressional republicans, also saying quote, look, we're ready to compromise. white house press secretary jos